Many fear the thought of receiving an IRS audit notice.  Because of this fear, our tax firm has often encountered clients that put off opening any IRS letters for the fear of being notified of an audit.  First, if you do receive an IRS audit notice, DO NOT PANIC.  Second, DO NOT IGNORE IT. Ignoring it will not make it go away.  Although an IRS audit may seem like a [...]

Side Business Advice Are you currently working a full-time job, but have an entrepreneurial spirit and have always wanted to start a business of your own? You are not alone.  Today, more and more people pursue opportunities outside of their nine to five job.  From business consulting, website design or blogging, the possibilities for side business opportunities are endless. The truth is, having a side business can provide a sense [...]

At some point everybody wonders what what will happen if they don’t pay their taxes. There are always consequences in society when rules and laws are broken. These consequences exercise justice and help society stay in order. So, what happens if you don’t pay your taxes? First, the IRS will penalize you for failing to completely pay off your taxes. The IRS will charge you this penalty in addition to [...]

When setting up payroll for your business, there are a few federal and state requirements that you will need to take care of. Payroll compliance isn’t a one-time task you can easily check off and remaining compliant is a big job. You must make sure your business is compliant with all payroll laws year-round. To keep track of what you need to do, use a payroll compliance checklist. Fill out [...]